Total world aluminum inventories in February 2010 fell by 24,000 metric tons to 2.272 million tons, down from 2.296 million tons in January, according to figures released by the International Aluminum Institute. Aluminium has touched a low of Rs 99.15 a kg after opening at Rs 99.15, and last traded at Rs99.3.For today market is looking for the support at 99.2, a break below could see a test of 99.1 and where as resistance is now likely to be seen at 99.4, a move above could see prices testing 99.5.

Trading Ideas:

Aluminium trading range is 99.1-99.5.

Feb 2010 world aluminium stocks down 24000 tonnes on month

Support for aluminium is at 98.20 and resistance is at 100.20 level.

Aluminium weekly stock at Shanghai exchange came up by 12365 tonnes.

BUY ALUMINIUM MAR @ 99.20 SL 98.60 TGT 100-100.80-101.40.MCX